SUCCESSFUL STRATEGIES TO USE ON QUIBIDS.COM
Oklahoma City based QuiBids has been a leading penny auction site since 2009. Once the clear industry leader, Quibids is a distant #2 to Dealdash.com. And while the number of auction offerings has decreased, the website still offers the chance to win some great deals on branded products, gift cards, and more. Don’t expect to sign-up and win auctions immediately as it take some practice to get used to the speed of penny auction play. Soon you’ll start to get the hang of it, win a few auctions, and have some fun.
To help you get started, here are some smart strategies to help you win more auctions and save money on Quibids penny auctions.
Start off small
Many people are attracted to the big ticket items on Quibids, such as TVs, laptops, and iPads. However, this is a common mistake new players make and a sure fire way to lose money. Expensive items are highly competitive, filled with seasoned penny auction players known as power-bidders. Instead, find less expensive items to play for. Once you understand the format better then you can move up to the more competitive auctions.
Small ticket products give you big results
As a new bidder, inexpensive items provide the best opportunities for some quick wins, as they draw less competition compared to expensive items. In fact, on Quibids states, “sometimes the best deals are on the cheapest products” on their strategy page.
The cost of bids
A big misconception of penny auctions is the “one cent bid” where bids cost only one cent. They do not. While every bid placed increases the auction price one penny, the cost of each bid is $0.40. For example, 100 bids cost $40. So let’s say an auction just ended (for a camera with a retail price of $650) and the auction winner placed 600 bids. He/she got a great deal on the camera as the total dollars spent on bidding was $240 to win a $650 item.
Remember the real cost to buy bids. Use a credit card to purchase different bid packages or bid packs:
Mini: 45 bids for $18
Small: 75 bids for $30
Large: 300 bids for $120
Premium: 600 bids for $240
Ultimate: 800 bids for $320
Free bids & voucher bids
Occasionally, Quibids has promotions where you can earn free bids. And multiple daily auctions for bid packs and voucher bids take place.
Set a budget
When setting a budget, it’s important to set a budget for each auction. Be conservative yet realistic. Be slow in your bidding so other bidders notice you are there. When the bidding heats up, that is the right time for you to bid more aggressively. Your assertiveness will chase away other bidders, resulting in you taking away the item. Although you must to be willing “to go the distance” on select auctions, don’t spread yourself too thin by bidding on many auctions at the same time.
When to bid
Generally speaking, the best time to bid is during off-peak hours or slower hours. Off-peak hours can be when other bidders are at work or sleeping.
Do your research
Before entering an auction, check out the statistics tab on your products. It has some of the most valuable information such as the average winning bids, average closing price, etc. You can also check the fees of each bid, the shipping costs, bidding limits, winning limits, promotions, etc. Use the Bid-O-Matic tool that places your bids when you are busy, hence improving your chances of winning an auction. Moreover, you can also earn an extra bid by ranking your game play before claiming your win.
Power bidding is a tactic of the bidder in which he or she deliberately bids very frequently. Their sole motive is to drive up the product prices so that they can intimidate other bidders and win the item. If you are a beginner, we strongly advise you to stay away. If you are an experienced bidder and know the history of power bidders in a given auction, watch the game and jump in when others back off. Until then, let other bidders battle it out and spend their bids.
Know your rivals
Get to know the other bidders, their bidding style, and behavior. For instance, why does one bidder jump in late while one is there from start to finish. Identify the new and experienced bidders. Through this knowledge, you’ll figure when to stay in an auction and when not to.
Place bids in the final seconds of the auction, that is, within the final 15 seconds. By doing this, you can become the highest bidder when the time resets. Even if someone else bids, then also you will get an extra bidding chance with additional time.
Bid-Ninja can help
Bid-Ninja penny auction software can help you win more auctions. The app is a bundle of three powerful penny auction tools: Analytics, Auction Tracker, and BidBuddy (Bid-Ninja’s auto-bidding tool). Once installed, Bid-Ninja automatically appears on each auction page. The software makes product and competitor research simple, shows you the best day of the week and time of the day to bid on a particular item, and the color code system easily identifies beginners and power bidders.
While no strategies can guarantee wins, they can certainly help. So here are some parting thoughts as you get ready to play on Quibids. Understand how Quibids penny auctions work and who the players are then proceed slowly. Most of all, please have fun!